Wool properties agreement to enable future R&D investment
CSIRO Textile and Fibre Technology and Australian Wool Innovation Pty Ltd (AWI) have reached an agreement involving the rationalisation of five wool research properties acquired between 1944 and 1971. In a major resolution for the two organisations, CSIRO and AWI have agreed to sell properties at Prospect and Bakers Hill and share the proceeds of the sale. AWI will review further options for Deniliquin, and CSIRO will retain Belmont and Armidale.
The agreement will further enhance the capacity of AWI to target commercially robust research, development and innovation activities that are able to provide a long-term return to Australian wool producers. It also reinforces CSIRO’s long-term commitment to wool research and development activities.
